Lenders give Cumulus buyout thumbs up


Cumulus Media said in an SEC filing that members of its lending group holding more than 50% of its debt have given their consents to amend the company’s existing credit agreement. The consents will permit Cumulus to go ahead with its pending going private buyout of public shareholders by CEO Lew Dickey, his family and an affiliate of Merrill Lynch Global Private Equity. The transaction still needs shareholder and FCC approval.